Kazakhstan could see up to 7% inflation in 2009
ALMATY. Nov 16 (Interfax) - Annual inflation in Kazakhstan is expected to reach 7% in 2009, the chairman of the state Statistics Agency, Alikhan Smailov, told a press conference.
"I believe that by late 2009 the annual inflation [December 2009 to December 2008] will not exceed 7%," he said.
Inflation in October totaled 0.4%, and 5.1% year to date, the state statistics agency has said.
Inflation in annual terms (October 2009 to October 2008) was 5.8% and average annual inflation (January-October 2009 to January-October 2008) was 7.6%.
The National Bank of Kazakhstan has reviewed its inflation forecast for 2009 and lowered it from 9% to 8-8.5%.
The year-on-year inflation (December 2008 to December 2007) totaled 9.5%, statistics agency reported. Meanwhile, the average annual inflation (January-December 2008 to January-December 2007) was 17%.